LSCU eSignal Weekly
LSCU eNews Weekly April 22, 2013
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LSCU eNews Weekly
In This Issue
President's Point
Collaboration on display at Chapter Leaders Retreat
LSCU Top Headlines
This week's top League headlines
Governmental Affairs News
This week in Alabama politics: Update Act passes Senate committee and more
This week in Florida politics: budget debate and FDIC closes three banks, two in Florida
Washington Update: floor schedule, committee meetings, and an update on last week’s activity
Compliance Corner
League InfoSight highlight: Authentication in Internet banking environment
NCUA Sets Ethics Standards for Employees
CUNA Regulatory Advocacy Report - week of April 22, 2013
Compliance calendar and training
AC&E News
Register by April 30 to receive early bird pricing for AC&E
LSCU Councils at the AC&E: new format for blended learning
Education News
LSCU webinars: cheaper by the dozen!
Cooperative Initiatives News
Deadline extended to apply for International CU Leadership program
LEVERAGE News
Research highlights member-friendly sources of noninterest income, LEVERAGE offers noninterest income options
News from You
Space Coast Credit Union remembers board member
JetStream Federal remembers retired vice president of lending
EMPLOYMENT
View available credit union jobs
In This Issue
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President's Point

Collaboration on display at Chapter Leaders Retreat

This past week the LSCU held a Chapter Leaders Retreat in Pensacola. We had representatives from 18 of the 19 Alabama and Florida chapters. They came together for a day-and-a-half retreat to discuss ways to improve the League and its chapter structure. Ideas were shared that ranged from making better chapter meetings to enhancing fundraising for the PACs and the Children's Miracle Network (CMN). The best part of the retreat was chapter leaders working together for the overall good of credit unions and the movement.

The Wiregrass Chapter made a presentation on their recent poker run for Juvenile Diabetes Research. What made their poker run different is that it was on horseback. They offered to share all of their materials, including sponsor information. Mike Raley, president of the Southernmost Chapter, shared secrets to making their meeting topics richer. APCO Employees Credit Union of Birmingham talked about their successful golf tournament to benefit CMN.

These are just a couple examples of the types of discussions at the retreat. There were many more. Our Cooperative Initiatives team gave a presentation on affiliation and many of the chapters talked about what they could do to help get some of the non-affiliates back with the League. The overall consensus of the retreat is that the more credit unions work together, the more that we can accomplish. What other group of financial institutions think this way?

We need to continue to cultivate this kind of thinking. Our chapters are working harder to make the chapter meetings more meaningful in hopes of increasing participation. The hope is that more credit union staff will get involved, including younger staff. The LSCU Young Professionals group took part in the retreat. If you have young professionals on your staff, get them involved in this group and the chapter. It is important that we continue to grow our next generation of credit union leaders. The League is including young professionals at many of our chapter events as well as the AC&E in June. I ask credit unions to register at least one younger staff member and start the process of cultivating them as leaders both within the LSCU and the movement.

For many of you, I know that you feel like you have gone to your share of chapter meetings. League staff said the energy in the room over the two days of the retreat was inspiring. Let's not let our movement fracture because we are not working together at the level needed to be successful and compete against the banks. Regularly attend chapter events and promote them to your staff. Our hope is that many will start a Facebook page to distribute information easier to all of you. We will share it back through our Facebook page. Let's recapture our cooperative spirit to continue to advance the movement and work harder to help our local communities. 

Where's Patrick:  This week will begin at the Corporate America Annual Meeting in Sandestin. The rest of the week I will be in Birmingham for the LSCU & Affiliates board meetings, as well as the CUSC of Alabama board meeting. You can see my schedule for the next two weeks by clicking on Where's Patrick?

Visit the LSCU Video Room to see the first quarter President's Report video. Send me any feedback to this column.
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LSCU Top Headlines
This week's top League headlines

MBL Disaster Bill filed
Rep. Carolyn Maloney (D-NY) introduced HR 1646, late last week. HR 1646 would provide an exception for credit unions making member business loans following a disaster. The League and CUNA both sent letters to Rep. Maloney in support of the legislation. You can read more in the LSCU Top Stories.

NCUSIF and Stabilization Fund strong
The NCUA board announced late last week after its fourth meeting of 2013 that the NCUSIF and the Stabilization Fund are strong. The fund's strength shows an improving economy and resilient credit unions. Also, the number of credit unions with assets at risk that Camel 3, 4 and 5 have dropped for 10 straight quarters. You can read more by visiting the LSCU Top Stories.

CU Philosophy in Action Workshop
Don’t miss the CU Philosophy in Action Workshop, May 14-15 in Birmingham. For more information, contact Laura Vann at 866.231.0545, ext. 2181.

NCUA Hosting Credit Union Marketing Webinar
NCUA is hosting a free webinar, “Driving the Bottom Line: Results through Marketing” on Tuesday, April 23, at 2 p.m. Eastern. The webinar will outline various marketing strategies to help credit unions improve outreach to current and potential members. This webinar is open to credit unions of all asset sizes. Click here to register. Participants will also use this link to log into the webinar. [ Return to Top ]

Governmental Affairs News
This week in Alabama politics: Update Act passes Senate committee and more

Alabama Act Update passes Senate committee
This past Wednesday the Senate Banking & Insurance Committee passed SB 371, the Alabama Credit Union Act Update, by Sen. Slade Blackwell, R-Birmingham. The passage was an important first step to seeing SB 371 pass the full Senate and move to the House during the final days of the legislative session.

There bill contains several amendments including one on the way credit unions conduct petition elections. Proposed language by the Alabama Credit Union Administration sought to restrict the number of members required to sign a petition for elections to boards of directors to 100. After several discussions with the ACUA and member credit unions, that section of the bill was removed and credit unions will be able to continue holding petition elections by the procedures currently existing for each credit union.

The League hopes to have this bill voted on by the entire Senate as early as this week.

What to know more? Click here to find out what happened last week in the Legislature.

Follow the GA team legislative updates on Twitter and Facebook.

For questions regarding legislative affairs issues in Alabama, contact LSCU Director, Governmental Affairs - Alabama Jason Cochran at 866.231.0545, ext. 2159.
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This week in Florida politics: budget debate and FDIC closes three banks, two in Florida

Budget debate
The size and scope of a plan to expand health care coverage, the amount of raises and bonuses for teachers and state workers, whether to raise college tuition, whether to retain some control over clerks of the court budgets, and how much power to give a new state information technology agency will be decided in budget talks between the House and the Senate during the next two weeks. The two chambers began to hash out the details of a more than $74 billion state budget during conference subcommittee meetings Friday, but the larger budget and policy issues that reach an impasse will likely get “bumped” to the chairs of conference committees. Click here to view a breakdown of the main issues where the House and the Senate are at odds.

FDIC closes three banks, two in Florida
Regulators on Friday closed two small banks in Florida and one in Kentucky, bringing the total number of U.S. bank closures to eight for this year. The FDIC shuttered Florida lenders Heritage Bank of North Florida and Chipola Community Bank. Heritage Bank, which had two branches and was based in Orange Park, had about $110.9 million in assets and $108.5 million in deposits. FirstAtlantic Bank, based in Jacksonville, agreed to assume Heritage Bank's deposits and purchase essentially all its assets. Chipola Community Bank, based in Marianna, had a single branch and about $39.2 million in assets and $37.6 million in deposits. First Federal Bank of Florida, in Lake City, agreed to assume the deposits and purchase essentially all of Chipola's assets. 

The failure of the three banks is expected to cost the deposit insurance fund a combined $50.2 million. U.S. bank closures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.

If you have any questions on any of the legislative issues mentioned above contact LSCU Director, Legislative Affairs, Jennifer Martin, 866.231.0545 ext. 1150. Get in on the conversation and get developing news and legislation updates from GA on Twitter and Facebook. [ Return to Top ]

Washington Update: floor schedule, committee meetings, and an update on last week’s activity

Both the House and the Senate are in session this week.

Floor Schedule
The House will meet at noon on Tuesday to consider several bills under suspension of the rules.  For the remainder of the week, the House will consider HR 1549, Helping Sick Americans Now Act, as well as HR 527, the Responsible Helium Administration and Stewardship Act. The Senate will convene at 2 p.m. on Monday to resume consideration of S 743, the Marketplace Fairness Act. The bill will allow states to charge sales tax on purchases from out-of-state vendors. 

When the House and the Senate concluded their business this week, they are expected to recess until the week of May 6. 

Committee Meetings
To view a complete list of hearings being followed by Governmental Affairs this week click here.

Update on Last Week’s Activity

The public comment period for input into the House Ways and Means Committee tax reform process closed on April 15. Read more. 

The House of Representatives passed four CUNA-supported bills related to cyber security. Read more.

The examination fairness bill – one of the 35 regulatory relief recommendations that CUNA made to Congress – was introduced in both the House and the Senate. Read more.

For more information or questions on federal legislation, contact LSCU VP of Governmental Affairs Jared Ross at 866.231.0545 ext. 1012. [ Return to Top ]

Compliance Corner
League InfoSight highlight: Authentication in Internet banking environment

In 2005, the FFIEC agencies issued guidance that provided a risk management framework for financial institutions offering Internet-based product and services to their members. It stated that institutions should use effective methods to authenticate the identity of customers and that the techniques employed should be commensurate with the risks associated with the products and services offered and the protection of sensitive customer information.

To help your credit union remain in compliance, the Authentication in Internet Banking Environment topic was recently added to the ACH/Electronic Payments channel. In addition to a link to the FFIEC’s Supplement to Authentication in an Internet Banking Environment, this topic includes information about layered security programs and effectiveness of certain authentication techniques. 

    Visit this topic today for information that will help your credit union stay in compliance

    The current issues of the InfoSight eNewsletter for Alabama and Florida are now available on the InfoSight homepage in the left-hand column. Members must login to the League website with username and password in order to access InfoSight. After you are logged in to www.lscu.coop, click on the InfoSight tab. If you do not have access to the League website, click here to sign up.

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    NCUA Sets Ethics Standards for Employees

    The NCUA has enhanced its employee ethics standards, revising rules that prevent its employees, including examiners, from engaging in additional credit union employment to avoid potential conflicts of interest.

    Effective April 17, NCUA employees are required to obtain agency approval for all outside work they engage in. NCUA made final the ethics policy enhancements at a closed meeting in February. The rule is entitled "Supplemental Standards of Ethical Conduct for Employees of the National Credit Union Administration."

    For the final adopted rule, as published in the Federal Register, use the following resource link: NCUA Final Rule
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    CUNA Regulatory Advocacy Report - week of April 22, 2013

    Each week CUNA provides credit unions a wealth of information through its Regulatory Advocacy Report. The report highlights for the week of April 22 include:

    • Rule on financing credit insurance on mortgage loans takes effect in June
    • CFPB releases report on the use of senior designation by financial advisors
    • CFPB proposes clarifying and technical changes to its Reg Z-Escrows Rule

    To read the most recent CUNA Regulatory Advocacy Report, click here.  [ Return to Top ]

    Compliance calendar and training

    April 2013

    May 2013

    For the complete list of calendar dates and compliance trainings, visit the LSCU Compliance Calendar on InfoSight. 

    *Note: To view InfoSight content, it is required to log in to www.lscu.coop for access. [ Return to Top ]

    AC&E News
    Register by April 30 to receive early bird pricing for AC&E

    The early bird gets the savings! Don’t miss your chance to save money by registering early for the 2013 AC&E. Register by April 30 and receive early bird pricing.

    The LSCU delivers a top level conference, including a host of high profile and quality speakers from the credit union industry. With 29 relevant education sessions, 120+ exhibiting companies, and a host of select events and networking activities, you won’t want to miss this year’s AC&E.

    Don’t delay…register before April 30 and save with early bird pricing!

    Visit www.lscuconvention.com for a full listing of education topics, conference events, exhibiting companies, and to register today!

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    LSCU Councils at the AC&E: new format for blended learning

    The LSCU Councils, in collaboration with Alabama and Florida CUES, will debut a new format at the 2013 LSCU Annual Convention & Exposition. The councils will meet as one group and feature three top-industry speakers. The speakers are designing their presentations to build off of one another, providing information as it impacts the entire credit union unit. 

    The new format promises to deliver the best training possible for credit union staff with the following relevant topics and industry expert speakers:

    Click the links above to view descriptions of the speaker topics. The registration fee, $195/person, includes a networking lunch. You do not have to be registered for the conference to participate in a council or the Compliance Forum. 
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    Education News
    LSCU webinars: cheaper by the dozen!

    When your credit union registers for an LSCU webinar (provided by the Credit Union Webinar Network), a “virtual punch card” will be maintained for you. Each time your credit union registers, you get one punch. After attending 12 webinars in a calendar year (including archived programs), your credit union will automatically receive a complimentary certificate for a free webinar!

    This loyalty reward will stretch your credit union’s training budget and provide quality webinars for every member of your staff.

    This week's webinar:

    April 24: Opening Personal Accounts: Membership, Ownership, and Access

    Get started on your 2013 dozen today! To see available webinars, click here. [ Return to Top ]

    Cooperative Initiatives News
    Deadline extended to apply for International CU Leadership program

    The deadline has been extended to April 30 for U.S. credit union professionals to apply for the International Credit Union Leadership program that will be hosted in Costa Rica June 9-22.

    The intensive internship offers excellent opportunities for emerging credit union leaders to better understand how Costa Rica credit unions assist under-served populations and support their communities through member education and other special projects.

    Selected applicants must be able to participate in the full two-week program in order to qualify. It is the applicants' responsibility to arrange for time away from their credit unions prior to application. The sponsoring U.S. credit union is also responsible for covering an airfare cost of approximately $950 associated with the applicant's exchange program as a sign of commitment to building human capital within their organization. The program includes:

    • lodging with a local host family
    • meal and communication stipends
    • local transportation
    • traveler's insurance

    Click here to apply. Click here to read more at LSCU Top Stories. [ Return to Top ]

    LEVERAGE News
    Research highlights member-friendly sources of noninterest income, LEVERAGE offers noninterest income options

    Since the economic meltdown of 2008 and the subsequent low-interest rate environment, credit unions have been searching for additional sources of member-friendly noninterest income (NII). In 2012 CUNA Mutual Group co-sponsored a Filene Research Institute study titled: “In Search of Member-Friendly Noninterest Income.” The study included credit unions with assets $50 million to $2.5 billion that finished in the top third in noninterest income from 2008 through 2011.  

    Two important things the research measured were how important specific sources of noninterest income were to credit unions and which sources provided the best value for members. LEVERAGE offers several products and services that increase noninterest income to credit unions and value to members. Products such as credit and debit cards, reloadable debit and gift cards, and Sprint discounts offer convenient low-cost transactions to members and an important source of income for credit unions during this extended period of low interest rates. [ Return to Top ]

    News from You
    Space Coast Credit Union remembers board member

     Dr. William "Jack" Sidoran, a Space Coast Credit Union (SCCU) board member and long standing credit union volunteer, passed away March 22 at age 66 after recently being diagnosed with ALS, also known as Lou Gehrig’s disease.

    “Dr. Sidoran was a credit union volunteer who generously donated his time and talents in an effort to uphold the serious responsibility of the board to protect our members’ interests in all decisions made at the credit union,” said Dr. Karen O. Palladino, board chairman of Space Coast Credit Union. “His input and leadership will be missed.” [ Return to Top ]

    JetStream Federal remembers retired vice president of lending

    A beloved, retired employee of JetStream Federal Credit Union, Fernando Reyes, passed away on Friday, April 19 following a long battle with cancer. After a three decade career in financial services, Fernando joined the JetStream team and served as vice president of lending for 13 years, from 1998 to 2011.

    Fernando possessed a passion for his work that was only surpassed by his love for family. He was a credit union champion who passed the torch on to his son, Jace Reyes, a lifelong credit union employee who currently serves as CEO of Miami Postal Service Credit Union.

    JetStream President /CEO, Jeanne Kucey, stated “All of the JetStream team members and volunteers will miss Fernando’s sense of humor, personal strength, and love for life. We express our deepest sympathies to his family.” [ Return to Top ]

    EMPLOYMENT
    View available credit union jobs

    To view available jobs posted by credit unions on the LSCU website, visit the LSCU CU Jobs Center. Click the link at the top of the CU Jobs Center page to view jobs at the LSCU. [ Return to Top ]

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